Greystone Closes $56.3 Million in Combined Freddie Mac Financing and Preferred Equity to Refinance North Carolina Multifamily Property

NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, announced it has closed a Freddie Mac loan and preferred equity component to refinance a 288-unit multifamily property located in North Carolina. The financing, $56.3 million in total, was originated by Dan Sacks, Senior Managing Director and Harrison Drucker, Director at Greystone with Matthew Zisler, Senior Managing Director at Greystone, securing the preferred equity on behalf of the client.

Greystone provided a $50,071,000 10-year Freddie Mac Optigo® loan with an additional $6,250,000 in preferred equity funds provided by Lubert Adler.

The refinanced property is a newly constructed, Class A multifamily community completed between 2021 and 2022. Comprising one-, two-, and three-bedroom units, the property offers residents a range of unique amenities including a saltwater swimming pool, leash-free bark park with agility equipment, outdoor social lounge and grilling pavilion, complimentary Starbucks coffee bar, 24-hour fitness center and yoga room, resident lounge, conference room, cybercafé, Amazon Hub package locker, soft-surface playground, and complimentary Wi-Fi.

“Greystone strives to be a highly collaborative financing partner for our clients, and the availability of our in-house preferred equity services make this much easier to help clients get to the closing table,” said Mr. Drucker. “We are thrilled to have helped our client refinance this quality asset for long-term success.”

About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

Securities transactions are processed through INTE Securities LLC dba Greystone INTE BD, member FINRA www.finra.org www.sipc.org. For information regarding INTE Securities LLC go to www.finra.org/brokercheck.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com